Why Should You Consider an Outsourced CFO?

2. Why Should You Consider an Outsourced CFO?

To address financial management, accounting and bookkeeping challenges, business owners and CEO’s may consider an accounting firm or bookkeeper; a full-time CFO; or an outsourced (part-time) CFO.

Here is how an outsourced CFO compares to these resources based on several common criteria:

Outsourced CFO vs. Full-time CFO

With an Outsourced CFO, you get:

  • The right expertise more cost-effectively.

  • A resource that focuses on the highest priorities vs. having to justify a full-time role.

  • Objective, independent perspective.

  • Flexibility vs. long-term commitment.

  • No overhead costs.

Outsourced CFO vs. Accounting Firm/Bookkeeper

In this comparison, an Outsourced CFO gives you:

  • Apples vs. oranges!

  • Senior perspective vs. tactical, task-oriented.

  • Problem solving not just tracking numbers. (While a good CFO can fix bookkeeping issues, bookkeepers aren’t always the best problem-solvers. They don’t necessarily have the expertise or perspective to manage cash flow or provide financial oversight.)